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Naturgy studies to invest in wind and renewable gas for Galicia after the closure of Meirama

The energy company Naturgy is working on the development of two wind farms of 70 megawatts in total and on the construction of a gas center in the vicinity of the power plant. Naturgy presented the request to close all its coal-fired power stations in Spain at the end of 2018 as part of this strategy of commitment to the energy transition and renewable generation.

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Naturgy is completing the alternative plans associated with the closures of the Meirama thermal power plant in A Coruña and Narcea in Tineo, which would mean new investments in Galicia and Asturias in the coming years, the company reported.

In Galicia, the energy company is working on the development of two wind farms, with a total capacity of 70 megawatts (MW), around the Meirama power plant. Naturgy has made progress on the feasibility study for the construction of a renewable gas center, which could involve an investment of up to $23.5 million (€20 million).

Find out more about Naturgy’s transition towards renewable energy and be the first to find the most important economic news with the Born2Invest mobile app.

Naturgy wants to develop two wind farms

In addition, the group chaired by Francisco Reynés is analyzing, together with the authorities, other possibilities for boosting the attraction of investment, new companies and projects to the plant’s surroundings.

As far as the Principality of Asturias is concerned, the energy company is working on the development of two wind farms, of 40 and 50 MW, respectively, in the area surrounding the Narcea plant and is analyzing the possibilities of recovering the river.

The company also pointed out that it is promoting projects associated with sustainable mobility, renewable gas, and finalizing various agreements between the Naturgy Foundation and the regional administrations to promote training and employment in the energy sector.

Reynés stated that this plan is “intimately linked to the company’s commitment to the energy transition promoted by the different administrations, and forms part of Naturgy’s commitment to sustainability and the necessary transition towards a cleaner and more efficient energy and economic model.”

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In this sense, he recalled that the company “has redoubled its efforts in ESG and has set itself the unavoidable commitment of reducing its CO2 emissions by 21% by 2022.”

Naturgy presented the request to close all its coal-fired power stations in Spain at the end of 2018 as part of this strategy of commitment to the energy transition and renewable generation. The closure of these plants is part of a new regulatory context that is more demanding and efficient in environmental terms.

On the other hand, the group’s general manager of Energy Management and Networks, Pedro Larrea, valued with respect to these alternative plans that the investment proposal on which the company is working in the plan associated with the closures of Meirama and Narcea “demonstrates our unquestionable commitment to the areas, the conviction that Naturgy can and must contribute to the economic development of the regions, as well as being a catalyst to attract new investment to each autonomous community.”

The plan for the power plants’ staffs

Naturgy has implemented a plan for all the employees of the plants that contemplates agreed solutions, either by continuing with the dismantling or relocation work in other units of the company or by agreed exits.

With regard to the employees of the auxiliary companies, the group stressed that it will do everything possible to encourage their hiring to undertake the work of closing and dismantling the plant, as well as to develop the alternative plan.

The group pointed out that the work of dismantling the plant means a net increase in employment in the areas surrounding the plants over the next two years, as the economic and industrial development projects reach maturity.

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(Featured image by distelAPPArath via Pixabay)

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First published in EL ESPANOL, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Valerie Harrison is a mom of two who likes reporting about the world of finance. She learned about the value of investing at a young age upon taking over her family's textile business when she was just a teenager. Valerie's passion for writing can be traced back to working with an editorial team at her corporate job, where she spent significant time working on market analysis and stock market predictions. Her portfolio includes real estate funds, government bonds, and equities in emerging markets such as cannabis, artificial intelligence, and cryptocurrencies.